Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Americas Gold and Silver Corp. (USA-T; USAS-N) announced a $25-million bought-deal financing. It has an agreement with a syndicate of underwriters that will buy 6,477,000 common shares for $3.86 each. The stock closed at $4.07 on Monday.
The company said the proceeds from the sale of the shares will be used for "the exploration, development and/or improvement" of its existing mine properties, "including those relating to bringing Relief Canyon into commercial production and for working capital and general corporate purposes."
Chemtrade Logistics Income Fund (CHE.UN-T) announced that Mark Davis will retire as president and CEO in 2021. Scott Rook, currently the chief operating officer, will replace Mr. Davis upon his retirement, the company said.
Its net loss was $3.7-million versus a loss of $12.6-million a year ago.
Horizon North Logistics Inc. (HNL-T) announced that Rod Graham has submitted his resignation as co-CEO and president of Modular Solutions of Horizon North.
Mr. Graham will continue to work with the corporation for up to 90 days "to ensure the smooth transition of his responsibilities," the company said.
Co-CEO John MacCuish will assume the CEO role "with continued leadership as president of the facilities management business," the company stated.
Mr. Cronin will remain CEO and a board member until his replacement has been found, after which he will remain on the board in an advisory role spearheading new technologies and partnership opportunities, the company stated.
McEwen Mining Inc. (MUX-T) announced a US$9.9-million bought deal private placement offering of 6 million flow-through common shares priced at US$1.65 each. It said the financing is led by Cantor Fitzgerald Canada Corporation as sole bookrunner and includes Roth Capital Partners, Red Cloud Securities Inc., and Maison Placements Canada Inc.
The company said the offering price is a 21-per-cent premium over the closing price of McEwen common shares on the TSX on Monday.
It said the proceeds will be used “exclusively for generative exploration activities on McEwen’s properties in the Timmins region.”
Minera Alamos Inc. (MAI-X) announced a $10-million bought-deal financing. It has an agreement with sole underwriter National Bank Financial Inc. to purchase 15,874,000 common shares of the company at 63 cents each. The stock closed at 73 cents on the TSX Venture Exchange on Monday.
The company said it intends to use the net proceeds to advance the construction of its Santana gold development project in Sonora, Mexico as well as further exploration activities at its development projects in Mexico.
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